SCHEDULES
F1SCHEDULE 7AInterest restriction returns
Annotations:
Amendments (Textual)
PART 4Enquiry into interest restriction return
New groups without existing reporting company
53
1
This paragraph applies if—
a
a closure notice is given to a company under paragraph 47,
b
a period of account of a worldwide group (“the new group”) is designated under paragraph 47(4) in the closure notice,
c
the company is not a member of the new group at any time in that period of account, and
d
paragraph 51 does not apply.
2
An officer of Revenue and Customs may appoint a company to be the reporting company of the new group in relation to that period.
3
The appointment—
a
must be of a company that was a UK group company at any time during that period and was not dormant throughout that period, and
b
must be made before the end of the period of 3 months beginning with the day on which the closure notice is given to the company.
Sch. 7A inserted (with effect in accordance with Sch. 5 para. 25(1)(2) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 2 (with Sch. 5 para. 28)